In case you're wondering too "What house I can afford?" or "What House You Can Afford" the following table can be of great service to you. Based on the net income, the table gives a rough indication of the amount up to which a property can be reasonably financed. As can be seen in the table, the real estate price is 100 times the monthly net income.
"How much house can I afford?" Five tips to protect your budget
What you can learn here
- Get offers: Answer the question, "How much house can I afford?" realistically and honestly. Take a buffer into account when planning, because firstly it will turn out differently and secondly than you think.
- Use as much of your own resources as possible: The lower the mortgage on the property, the better your interest rate will be. This effect allows you to lower your monthly rate for two reasons: Not only is the loan smaller, the offer is also better!
- Apply for Baukindergeld: The Baukindergeld amounts to 1,200 euros per year for 10 years, i.e. 12,000 euros per child in total. You can apply for a household income up to a maximum of 90,000 euros for one child plus 15,000 euros for each additional child. The application is processed through KfW.
- Use buffs : The Credit institution for reconstruction (KfW) offer numerous grant programs. Mainly the conversion to low-barrier and energy-efficient apartments is promoted.
- reduce property transfer tax: When buying a property, land and property are often purchased as a package. The real estate transfer tax is then levied on the entire purchase price. Depending on the federal state, this is between 3.5 and 6.5 percent. In the case of new-build properties, the real estate transfer tax is only levied on the property price if the property is purchased alone. You then simply take care of placing the order with a construction company yourself. But you can also save quite a few euros when buying an apartment. "Unrelated fixtures and fittings" are exempt from property tax. This applies, for example, to kitchens, awnings, saunas or other inventory remaining in the apartment.
- Repayment rate change: Agree with your bank that you will use the Change repayment during the term for example, if you have children later and your income shrinks due to parental benefits.
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